Bank of America is one of the largest financial institutions in the world serving individual consumers, small businesses, and large corporations. It has over 142,000 employees and $621.7 billion in total assets. Some of Bank of America's stakeholders include customers, investors, regulators, community organizations, and employees. It faces challenges such as lawsuits over alleged discriminatory lending practices and environmental impact of continuing to invest in coal. Bank of America aims to engage with stakeholders, pursue corporate social responsibility and environmental sustainability initiatives, and empower women leaders through financing.

1. Bank of America
Business and Government Relations Presentation

2. GROUP: SKYLINE
• HuynhThanh Nguyen
• Nguyen Phan Dang
• VoTungThien An
• NgoThi Xuan Uyen
• Tran Hong Dao

3. Background Information
• Public Company
Incorporated: 1904 as Bank of Italy; 1960 as
North Carolina National Bank
• Employees: 142,724
• Total Assets: $621.7 billion (2001)
• Stock Exchanges: New York
• Ticker Symbol: BAC
• NAIC: 551111 Offices of Bank Holding
Companies; 52211 Commercial Banking

4. Background Information
Bank of America is one of the world's largest financial institutions,
serving individual consumers, small businesses, middle-market
businesses and large corporations with a full range of banking, investing,
asset management and other financial and risk management products and
services. The company provides unmatched convenience in the United
States, serving approximately 49 million consumer and small business
relationships with approximately 5,000 retail banking offices and
approximately 16,000 ATMs and award-winning online banking with 30
million active users and more than 15 million mobile users. Bank of
America is among the world's leading wealth management companies and
is a global leader in corporate and investment banking and trading across
a broad range of asset classes, serving corporations, governments,
institutions and individuals around the world. Bank of America offers
industry-leading support to approximately 3 million small business
owners through a suite of innovative, easy-to-use online products and
services. The company serves clients through operations in more than 40
countries. Bank of America Corporation stock (NYSE: BAC) is listed on
the New York Stock Exchange.

5. TheVarious Stakeholders of Bank
of America

6. Stakeholder Engagement
• Bank of America’s stakeholders include our customers,
clients, investors, regulators, community organizations,
employees and others.

7. National, regional and global organizations:
•The Alders gate Group
• American Bankers Association American Chamber of Commerce
to the EU
• American Securitization Forum
• Asia Securities Industry and Financial Markets Association
• Association for Financial Markets in Europe
• British Bankers’ Association
• Business for Social Responsibility
• Business Roundtable
• Center for Climate and Energy Solutions (C2ES) Business
Environmental Leadership Council
• Center for Strategic and International Studies
• Centre for European Policy Studies
•The Clearing House Association
• Climate Markets & Investment Association
• Consumer Bankers Association
• Council of State Governments

8. • Council on Foreign Relations
• Electronic Payments Coalition
• Eurofi — Financial Services in Europe
•The European Institute
• Finance and Leasing Association
• Financial Services Forum
• Financial Services Roundtable
• Futures and Options Association
• Futures IndustryAssociation
• Global Coalition on Aging
• Global Financial Markets Association
• International Capital Market Association
• International Swaps and Derivatives Association
• Investment Company Institute
• Mortgage Bankers’ Association
• National Business Coalition on E-Commerce & Privacy
•The Risk Management Association
• Securities Industry and Financial Markets Association
• State bankers’ associations
• UK’s Association of Foreign Banks
• UK Cards Association
• U.S. Chamber of Commerce
• U.S. Partnership for Renewable Energy Finance

9. Problems and challenges
1. Death of Bank of America intern
Intern Moritz Erhardt was found dead in
the shower after having worked three
consecutive all-nighters. The 21-year-old
suffered an epileptic seizure. Hazing
practices of pulling late night work hours
are not uncommon in the banking
industry, as there are enormous
workloads that come with being an
intern.

10. 2. Bank of America sued for $2.15 million.
FINRA, The Financial Industrial Regulatory Authority, the
biggest independent securities regulatory company, fined the
brokerage divisions of Bank of America for $2.15 million based
on allegations that the bank sold floating-rate bank loan funds
that harmed the risk options of its clients.

11. 3. Bank of America Finds a Mistake: $4 Billion Less
Capital
The mistake, which had gone undetected for several
years, led the bank to report recently that it had $4 billion
more capital than it actually had. After Bank of America
reported its error to the Federal Reserve, the regulator
required the bank to suspend a share buyback and a
planned increase in its quarterly dividend.

12. 4. Environment impact
While Bank of America claims to support environmental
responsibility, it continues to lead investments in coal, one of
the biggest threats to public health and climate stability,"
RAN stated. Bank of America is America's leading financier of
this dirty industry in the U.S. Its current plans to underwrite
Coal India's share offering are deepening its involvement, and
show a worrying disregard for biodiversity and basic workers'
rights.

13. Stakeholder engagement
• Bank of America’s stakeholders include customers,
clients, investors, regulators, community organizations,
employees and others. They work with these groups
through formal, mandated engagements such as
shareholder meetings, as well as through our ongoing
outreach to customers, nonprofit organizations and
community groups.

14. Employee treatment
• Bank of America embrace the rich diversity of workforce,
and they look to service values and ethical principles to
unite and focus on common goals. They succeed when
they collaborate and treat everyone – their coworkers,
customers, suppliers and members of the communities
they serve – respectfully, fairly and with dignity. They
provide a safe workplace and follow all laws relating to
employment rights.

15. Corporate social responsibility
• Corporate social responsibility is
attached to Bank of America’s
values and informs how they
conduct business, develop
products and services and deliver
on their goals and commitments.
Bank of America’s Corporate Social
Responsibility program not only
guides the values and principles of
their company, but also makes a
meaningful impact in communities
around the world.

16. Environment sustainability
Bank of America issues $500 million Green Bond
• Bank of America’s Green Bond is a senior bond where the
funds will be used specifically to finance green investments
such as renewable energy and energy efficiency projects.
• $50 billion environmental business initiative to help address
climate change, reduce demands on natural resources and
advance lower-carbon economic solutions .

17. Social Impact
TURN YOUR MILES (RED) is an eight-week campaign that
empowers walkers, runners and fitness enthusiasts worldwide
to make a collective contribution that will save lives and
effect change. For each Nike+ Running mile pledged to (RED),
Bank of America will donate 40 cents – up to $1 million –
toward the fight to eradicate mother-to-child HIV
transmission.

18. Empowering woman leaders
Bank of America has made a $10 million investment
through Calvert Foundation targeted to women in the
developing world. Bank of America start make loans to
organizations empowering women through access to
finance, affordable healthcare, and capacity building.

19. Promoting strong economies
They promote economic growth and neighborhood
revitalization by extending credit to individuals, local
businesses and community organizations, while ensuring a
fair return for our shareholders.
Promoting a diverse workplace starts at the top
Every day, they focused on creating not only a great place to
work, but also an environment where employees, customers
and communities around the world can reach their goals and
connect with each other.

20. Problems may have
• Demands for greater disclosure
• Increased customer interest
• Growing investor pressure
• Competitive labor markets

21. Corporate Power In Society

23. • Bank of America/Countrywide’s discriminatory
mortgage lending and its implications for racial
segregation
1. Background about the case
2. Detail
3. Result

24. • A huge settlement in a high-profile mortgage-
discrimination case against Countrywide Financial.
• Bank of America bought Countrywide back in 2008
• Countrywide discriminated against African-American
and Hispanic.
1. Background:

25. On December 21, 2011
Bank of America settled a Justice Department
complaint alleging racial discrimination in mortgage
lending by its Countrywide subsidiary.
The face of widespread discriminatory mortgage
lending practices helped create, since has
perpetuated:
• Racially segregated
• Impoverished neighborhoods.
The history of “Law-sanctioned” racial
segregation has had many damaging effects.

26. 2. Detail:
Bank of America’s Countrywide subsidiary:
• Charging higher rates and fees on mortgages to
minorities than to whites with similar characteristics
• Shifting minorities into subprime mortgages with
terms

27. Racially discriminatory practices in mortgage
lending (known as “reverse redlining”)
Redlining – the blanket denial of mortgages to
minority homebuyers.
Redlining contributed to racial segregation:
• Keeping African Americans out of
predominantly white neighborhoods
Reverse redlining had a similar result:
• Exploitative mortgage lending
• Exacerbating racial segregation

28. 3. Result:
• The legal settlement requires Bank of America to
spend $335 million to compensate victims of
Countrywide’s discriminatory lending practices.
• Do little to address the comparatively poor
educational outcomes of children

29. Ethical Issue
• Doing the RightThing:
We have the responsibility to do the right thing for our
customers, shareholders, communities and one another.
• Winning:
We have a passion for achieving results and winning—for
our customers, our shareholders, our communities and one
another.

30. Ethical Issue
• In 2013, Federal Home Loan Banks in Boston, Chicago
and Indianapolis andTriaxx said that Bank of America
put its own interest ahead of shareholders. Since
Bank of America was offering lines of credit on
second mortgages, they largely avoided financial
loss.

31. Ethical Issue
• The Justice Department has initiated lawsuits Bank of
America because they lie about asset quality.
The brand has lost its reputation for years to build

32. Ethical Issue
• Exploiting vulnerable customers
Between 1993 and 2003, Bank of America collected $284
million of Social Security funds from customers in order to
get bank fees.

33. Ethical Issue
Bad employer
• Bank of America and Merrill Lynch awarded its traders
and executives $5.2 billion in bonuses, despite receiving
a $45 billion taxpayer bailout.
• 11 Merrill Lynch executives and traders were paid more
than $10 million each, while nearly 700 were received at
least $1 million.

34. Donation
• Service Members &Veterans
• TurnYour Miles
• Fighting Hunger